KKR Announces Intra-Quarter Monetization Activity for the Second Quarter

Rhea-AI Summary

KKR reported earnings from monetization activities from April 1, 2022 to June 23, 2022, exceeding $950 million. This includes about 75% gross realized carried interest and 25% realized investment income, primarily from recent strategic and secondary sales, along with dividend and interest income. However, these estimates do not predict total revenues for the quarter ending June 30, 2022, as they exclude other income sources, expenses, and potential losses.

Positive

• Gross realized carried interest over $700 million indicates strong operational performance.
• Diverse income sources, including dividend and interest income from KKR's portfolio, contributing to stable cash flow.

Negative

• Monetization estimates do not include significant income sources, leading to uncertainty in overall revenue performance.
• Forward-looking statements highlight inherent uncertainties in predicting future financial results.

NEW YORK--(BUSINESS WIRE)-- KKR today announced a monetization activity update for the period from April 1, 2022 through June 23, 2022. Based on information available to us as of today, with respect to the period through June 23, 2022, KKR has earned gross realized carried interest and realized investment income in excess of $950 million, of which approximately 75% is gross realized carried interest and approximately 25% is realized investment income. This is driven primarily by strategic and secondary sale transactions that have closed quarter to-date, as well as dividend and interest income from KKR’s balance sheet portfolio.

The estimate disclosed above is not intended to predict or represent the total revenues for the full quarter ending June 30, 2022, because it does not include the results or impact of any other sources of income, including fee income, losses or expenses. This estimate is also not necessarily indicative of the results that may be expected for any other period, including the entire year ending December 31, 2022.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Forward-Looking Statements

This press release may contain forward-looking statements, including estimated operating results from certain monetization activities. Words such as “expect,” estimate,” “will,” “may” and “believe” or similar expressions may identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results to differ materially from those included in these forward-looking statements, and investors should not place undue reliance on such statements. These forward-looking statements speak only as of the date of this press release, and we do not undertake any obligation to update or revise any of the forward-looking statements to reflect future events or circumstances, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220623005853/en/

Investor Relations:

Craig Larson

+1 (877) 610-4910 (U.S.) / +1 (212) 230-9410

investor-relations@kkr.com

Media:

Kristi Huller, Cara Major or Miles Radcliffe-Trenner

+ 1 (212) 750-8300

media@kkr.com

Source: KKR

FAQ

What is KKR's gross realized carried interest for the period ending June 23, 2022?

KKR's gross realized carried interest exceeded $700 million for the period ending June 23, 2022.

How much did KKR earn in realized investment income through June 23, 2022?

KKR earned approximately $250 million in realized investment income through June 23, 2022.

What factors contributed to KKR's income from April to June 2022?

KKR's income was mainly driven by strategic and secondary sale transactions, along with dividend and interest income from its balance sheet portfolio.

Are KKR's estimates for June 2022 indicative of total revenues for the quarter?

No, the estimates provided do not predict total revenues for the quarter ending June 30, 2022.

What risks does KKR face in predicting future revenues?

KKR's forward-looking statements are subject to uncertainties that could lead to actual results differing materially from estimates.